Centum Investment Company (Centum), a private Kenyan investment company, and Cassia Capital Partners, a US-based investment advising company, recently acquired a 45-percent stake in Platcorp Holdings Limited, the parent company of Platinum Credit Limited, a lender that operates in Kenya, Uganda and Tanzania. The Platinum Credit companies are non-banking, non-deposit-taking institutions that serve a total of 80,000 clients with “emergency” loans that are disbursed to approved clients within 24 hours.

The acquisition was made at an undisclosed price via Kilele Holdings Limited, a vehicle in which Centum holds a 79-percent stake and Cassia holds the remainder. Centum describes its investment in Platcorp as serving its goal to increase the company’s geographical diversification.

As of fiscal year 2011-2012, Centum reports total assets of KES 11.5 billion (USD 131 million). Financial information for Cassia is unavailable.